Is Money Deposited in Banks Safe? Part-1
Many of the depositors in the public sector banks are worried after the Punjab and Maharashtra Co-operative Bank (PMC) fiasco.
Newsclick Team

Many of the depositors in the public sector banks are worried after the Punjab and Maharashtra Co-operative Bank (PMC) fiasco. In this context, Union Finance Minister Nirmala Sitharaman, in her Budget speech 2020, proposed to hike the bank deposit insurance in private banks to Rs 5 lakh per depositor from the current Rs 1 lakh. In this regard, NewsClick spoke to CP Krishnan, Joint Secretary of Bank Employees Federation of India (BEFI).
 

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